Global Oil Filter Market 2016-2020

Overview of the global oil filter market

Technavio’s market research analyst predicts the global oil filter market to grow at a CAGR of more than 4% by 2020. Oil filters remove impurities and other waste components from circulating and transmission oil, lubricating oil, engine oil, and hydraulic oil in automobiles. Due to the introduction of stringent government regulations and the implementation of new initiatives for emission reduction, several manufacturers have been compelled to develop sophisticated engine designs and clean fuel levels in oil filters. Since the growth prospects for this market are heavily dependent on the sales of commercial and passenger vehicles, the rapid growth of the commercial and passenger vehicle industries will augment the need for oil filters over the next four years.

Another factor impelling the prospects for growth in this market is the recent rise in demand for agricultural tractors. Agricultural tractors have a lifespan of 10-15 years. As a result, the timely replacement of these tractors will become necessary for their smooth operation. Proper maintenance of such equipment will also help to bring about cost reduction, improvement in productivity, and boost revenue generation. This will fuel the demand for replacement in regions like North America and Western Europe, where farmers seek to increase efficiency by replacing older machinery with technologically sophisticated equipment. This preference for equipment replacement will, in turn, bolster the demand for oil filter during the next four years.   

Segmentation by end user and analysis of the oil filter market

• Passenger cars
• Commercial vehicle
• Two wheelers